Oligopolists use advertising as a way of differentiating their products

When Janet Yellen, Chair of the Federal Reserve, addresses Congress regarding the United States role in the world economy, she is discussing

A) a macroeconomic topic. B) a microeconomic topic. C) scarcity. D) incentives.

Refer to Figure 6.1. At point C

A) the marginal product of labor is greater than the average product of labor. B) the average product of labor is greater than the marginal product of labor. C) the marginal product of labor and the average product of labor are equal. D) the marginal product of labor and the average product of labor are both increasing. E) Both B and D are correct.